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Enter Stock SymbolHope dims for hydroxychloroquine even as medical study detailing the drug’s failure is retractedA month ago, about 70% of the COVID-19 patients being treated at the 13 hospitals that make up the Hackensack Meridian Health system in New Jersey received hydroxychloroquine as part of their care.Fri, 05 Jun 2020 16:48:00 +0000 —Read more…Don’t Judge Pfizer by Its Vaccine EffortsA lot of stocks are rising because of efforts to find a cure or vaccine against COVID-19. Pfizer's (NYSE:PFE) PFE stock should not be one of them.Source: Manuel Esteban / Shutterstock.com That's not to dismiss its efforts. Pfizer might win the race to get a vaccine out by fall. It's a finalist in the competition to get something out by the end of the year. The company has also outsourced some drug production to focus on the vaccine.But Pfizer is a huge company. Revenues in 2019 were $51.75 billion, and nearly $16.3 billion of that was net income. There's a lot more to look at besides the vaccine, and a lot more to worry about.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Pfizer's ProblemsPfizer is a no-growth company valued for its 38 cents per share dividend, which currently yields 4.2%. With 5.5 billion shares outstanding, it costs $8.36 billion to pay that dividend out over a year.This means the dividend looks safe, which is why income investors should strongly consider it. But shares don't reflect that safety. They're now down 7.3% in 2020. * 7 Hotel Stocks to Buy Before Vacationing Restarts That's because Pfizer's generic Upjohn business is in the process of being spun out and merged with Mylan (NYSE:MYL). The consumer business was spun-out last year, joining that of GlaxoSmithKline (NYSE:GSK).While the current company has plenty of income for the payout, cash flow projections show the main company's dividend dropping 17%, to about 32 cents. That's a yield of just 3.6% for PFE stock. The rest should come out from the spin-off, which is to be called Viatris. But that means your dividend depends on a second management team.Many of the company's best-known brands, like Lipitor, Celebrex, and Viagra, are going into the spin-off. Mylan managers who got the company into trouble in the first place are being retained.Then there's Pfizer itself. A Phase 3 study of its breast cancer drug palbociclib, sold as Ibrance, was halted as it became clear it wouldn't meet its goals. The company's epilepsy drug, Lyrica, is losing patent protection, and revenue could fall $2.8 billion over the next few years as a result.Pfizer's latest 8-K report from April shows Upjohn getting $8-$8.5 billion of revenue this year, against $40.7-$42.3 billion for the remaining company. The assumption of 12% growth for the new company is based on Eliquis, an anticoagulant, Vyndaqel and Vyndamax, which are heart drugs, and Ibrance. Pfizer CuresConcerns about the pipeline led Pfizer to put $500 million into other companies as a "Breakthrough Growth Initiative." The idea is that by financing late-stage development of promising therapies, for a non-controlling interest, Pfizer can expand its pipeline at low cost.Then there's the vaccine, which it hopes to start testing on thousands of people by September. The company hopes for data on a smaller sample of patients as early as this month. The Pfizer candidate was co-developed with BioNTech (NASDAQ:BNTX), a German company. The Bottom Line on PFE StockPfizer has delivered shareholder returns of 30% over the last three years, combining dividends and the stock's capital gains, despite declining revenue.The spin-off of consumer health and generics means the company is more dependent on its branded drugs, and its pipeline, than ever before. Analysts at Trefis think the stock should be worth $46/share. Analysts at JPMorgan Chase (NYSE:JPM) disagree.To fuel the bulls, Pfizer needs results in its research and must maintain high prices on the resulting drugs. That's why the Ibrance news sent the stock down 8%, as it was about to get back to even on the year.Buying Pfizer today is a bet on the future of research and patented medicines. If you think that future is bright, buy. If you're worried about that business, don't.Dana Blankenhorn has been a financial and technology journalist since 1978. His latest book is Technology's Big Bang: Yesterday, Today and Tomorrow with Moore's Law, essays on technology available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in JPM. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * Top Stock Picker Reveals His Next 1,000% Winner * The 1 Stock All Retirees Must Own * Look What America's Richest Family Is Investing in Now The post Donat Judge Pfizer by Its Vaccine Efforts appeared first on InvestorPlace.Fri, 05 Jun 2020 15:59:13 +0000 —Read more…Mylan and Lupin Receive European Marketing Authorization for Nepexto®, Biosimilar EtanerceptMylan N.V. (NASDAQ: MYL) and Lupin Limited (Lupin) today announced that the European Commission (EC) has granted marketing authorization for Nepexto®, a biosimilar to Enbrel® (etanercept), for all indications of the reference product including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondyloarthritis (including ankylosing spondylitis and non-radiographic axial spondyloarthritis), plaque psoriasis and paediatric plaque psoriasis.Thu, 04 Jun 2020 12:00:00 +0000 —Read more…Is Momenta Pharmaceuticals' Stock a Buy?Despite disruptions from the COVID-19 pandemic, Momenta Pharmaceuticals' (NASDAQ: MNTA) clinical trials investigating experimental therapies for a variety of autoimmune conditions and rare diseases are still going strong. The company will be announcing top-line phase 2 results for the treatment of myasthenia gravis (an autoimmune disorder affecting skeletal muscles) in the third quarter of 2020. Will the company's pipeline candidates be successful in their clinical trials?Wed, 03 Jun 2020 12:08:00 +0000 —Read more…Delaware Enhanced Global Dividend and Income Fund Announces DistributionsToday, Delaware Enhanced Global Dividend and Income Fund (the "Fund"), a New York Stock Exchange–listed closed-end fund trading under the symbol "DEX," declares a monthly distribution of $0.0485 per share. The monthly distribution is payable June 26, 2020, to shareholders of record at the close of business on June 19, 2020. The ex-dividend date will be June 18, 2020. As described below, the distribution rate has been decreased to 6.5% of the Fund’s average net asset value ("NAV") per share starting with the June 26, 2020 distribution.Tue, 02 Jun 2020 21:05:00 +0000 —Read more…Revance, Mylan Move Forward With Botox Rival; Analyst Sees Long Path AheadAfter several postponed decisions, Mylan Inc (MYL) has announced that it is moving forward with a Botox biosimilar development program in collaboration with Revance Therapeutics (RVNC). On the news MYL rose 3% in Monday’s trading, RVNC was up 4%, and Botox owner AbbVie (ABBV) fell 2%.Feedback from the U.S. FDA in February 2019 indicated that the 351(k) regulatory pathway for an onabotulinumtoxinA product is viable, Revance said. Based on this meeting, along with the results from additional characterization and analysis, the two companies are now proceeding with the development program.“We are excited to move forward with Revance on a clear and achievable development pathway for what will potentially be the first biosimilar to BOTOX” said Mylan President Rajiv Malik. “This collaboration adds another high-profile, large-market, complex biologic, across both aesthetic and therapeutic categories, to our industry-leading biosimilars pipeline.”Mylan and Revance signed a collaboration and license agreement in February 2018 for to develop a Botox biosimilar, with commercialization by Mylan. The agreement included an upfront payment of $25 million to Revance, and was extended for $5 million in 2019.With Mylan’s decision to move forward, Mylan will now pay $30 million to Revance. The agreement also allows for up to $70 million in milestone payments to RVNC alongside sales target milestone payments and royalties.“In all, we don’t think this is surprising as the program has been in the works for some time” comments RBC Capital analyst Randall Stanicky. “MYL has since been focused on getting additional clarity on FDA’s regulatory expectations. The decision to now move forward thus implies that MYL is reasonably confident it can meet those expectations” he said.However the analyst does not see this coming before 2025, writing, “there are still regulatory hurdles that need to be overcome, and we do not expect a biosimilar BOTOX.”That said, this decision has out-year competitive considerations for ABBV should MYL/RVNC ultimately succeed (global BOTOX sales are >7% of total 2021E revenue for ABBV), the analyst points out."But there are significant technical hurdles that need to be overcome and this is not a near-term event… We expect some focus to remain here, and it will add some headline to watch but it is not a near-term threat [to ABBV]” he concludes.Stanicky has a buy rating on MYL with a price target of $26 (45% upside potential). He also reiterated a buy rating on ABBV with a $102 price target (12% upside potential).Overall, MYL has a cautiously optimistic Moderate Buy consensus while Revance scores a more bullish Strong Buy Street consensus. The $28 average analyst price target for Revance indicates 30% upside potential lies ahead. (See Revance stock analysis on TipRanks).Related News: Gilead Sinks 3% On New Remdesivir Data; Analysts Stay Sidelined Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Regeneron, Intellia Expand Partnership To Develop Hemophilia Treatments More recent articles from Smarter Analyst: * Micron's Growth Story Remains Intact, Says Analyst * Aurora Cannabis (ACB): The Stock Is Too Hot on U.S. CBD Entry * Billionaire Jim Simons Snaps Up These 3 Penny Stocks * Novavax Surging On $60M Funding For Covid-19 Vaccine CandidateTue, 02 Jun 2020 07:31:39 +0000 —Read more…Revance and Mylan to Advance Development Program for Biosimilar to BOTOX®Revance and Mylan to Advance Development Program for Biosimilar to BOTOX®Mon, 01 Jun 2020 12:30:00 +0000 —Read more…Mylan Invalidates Sanofi's Lantus® SoloSTAR® Device Patents in IPR ProceedingsMylan N.V. (NASDAQ: MYL) today announced that the U.S. Patent and Trademark Appeal Board (PTAB) has ruled in favor of Mylan in inter partes review (IPR) proceedings finding all challenged claims of Sanofi's Lantus® SoloSTAR® device patents, U.S. Patent Nos. 8,603,044, 8,992,486, and 9,526,844 unpatentable. The PTAB found three claims of the 9,604,008 patent unpatentable, and two claims to be patentable. However, Mylan has previously obtained a covenant not to sue from Sanofi on the '008 patent and therefore this ruling does not impact Mylan's ability to launch upon final approval from the U.S. Food and Drug Administration. The PTAB also found Sanofi's proposed amended claims for the '486 and '844 patents unpatentable.Fri, 29 May 2020 19:24:00 +0000 —Read more…Here is How Hedge Funds Traded Mylan N.V. (MYL) RecentlyThe latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]Fri, 29 May 2020 15:32:53 +0000 —Read more…Statement Pursuant to Section 19(a) of the Investment Company Act of 1940: DEXOn May 29, 2020, Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) (the "Fund"), a closed-end fund, paid a monthly distribution on its common stock of $0.0714 per share to shareholders of record at the close of business on May 22, 2020.Fri, 29 May 2020 15:29:00 +0000 —Read more…Top Research Reports for Intel, Adobe & AMDTop Research Reports for Intel, Adobe & AMDFri, 22 May 2020 13:13:01 +0000 —Read more…Delaware Enhanced Global Dividend and Income Fund Appoints Allan Saustrup Jensen as Co-ManagerToday, Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) (the "Fund"), a New York Stock Exchange–listed closed-end fund trading under the symbol "DEX," announced that, effective May 19, 2020, Allan Saustrup Jensen will be appointed as co-manager for the Fund. Mr. Jensen will join Damon J. Andres, Åsa Annerstedt, Wayne A. Anglace, Adam H. Brown, Liu-Er Chen, Craig C. Dembek, Roger A. Early, Chris Gowlland, Jens Hansen, Claus Juul, Nikhil G. Lalvani, Paul A. Matlack, John P. McCarthy, Klaus Petersen, and Babak (Bob) Zenouzi in making day-to-day investment decisions for the Fund.Tue, 19 May 2020 20:38:00 +0000 —Read more…Pfizer Inc. -- Moody's assigns A1 to Pfizer's notes; on review for downgradeMoody's Investors Service ("Moody's") assigned an A1 rating to the new senior unsecured notes being issued by Pfizer Inc. ("Pfizer"). This rating is on review for downgrade, consistent with other senior unsecured ratings of Pfizer. There are no changes to Pfizer's existing ratings including the A1 long term rating (on review for downgrade) and the Prime-1 commercial paper rating (not on review for downgrade).Mon, 18 May 2020 15:52:12 +0000 —Read more…Better Buy: Pfizer vs. Bristol Myers SquibbPfizer (NYSE: PFE) will look like a much different company within a few months as it spins off Upjohn and merges the unit with Mylan. Bristol Myers Squibb (NYSE: BMY) is still integrating Celgene after acquiring the biotech in November. Both Pfizer and BMS have seen their stocks plunge close to 30% this year then make strong rebounds.Sun, 17 May 2020 18:03:00 +0000 —Read more…Markets Set Out on Long Journey to Recovery: 4 ROE PicksROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company.Thu, 14 May 2020 14:08:02 +0000 —Read more…Coronavirus update: Global case tally tops 4.31 million as Russia sees spike in cases, Brazil and Mexico suffer deadliest day yetThe number of global cases of COVID-19 rose above 4.31 million on Wednesday, as Russia counted another 10,000 infections and Brazil and Mexico suffered their deadliest day since the start of the pandemic.Thu, 14 May 2020 10:43:00 +0000 —Read more…Mylan to Present at the 2020 RBC Capital Markets' Virtual Global Healthcare ConferenceGlobal pharmaceutical company Mylan N.V. (NASDAQ: MYL) today announced that Executive Chairman Robert J. Coury and President Rajiv Malik will present at the 2020 RBC Capital Markets' Virtual Global Healthcare Conference on Tuesday, May 19, 2020 at 8 a.m. ET.Wed, 13 May 2020 16:23:00 +0000 —Read more…US STOCKS-Futures climb ahead of Fed Chair Powell's addressU.S. stock index futures rose on Wednesday, after Wall Street's main indexes fell sharply in the previous session, with markets also awaiting comments from Federal Reserve Chairman Jerome Powell amid recent speculation over negative interest rates. Futures traders began pricing in the possibility of negative rates last week and President Donald Trump piled pressure on the Fed again on Tuesday, as the economy reels from the impact of the coronavirus pandemic. Powell's webcast address is expected to start at 9 a.m. ET (1300 GMT).Wed, 13 May 2020 12:33:11 +0000 —Read more…Gilead Strikes Deal With Mylan to Supply Remdesivir InternationallyMylan (NASDAQ: MYL) announced on Tuesday that it has entered into a global partnership with Gilead Sciences (NASDAQ: GILD) to manufacture and distribute remdesivir in 127 low- and middle-income countries as a treatment for COVID-19. Because of the urgent nature of the pandemic, Gilead has indicated its desire to make remdesivir widely available as quickly as possible, and partnering with Mylan will help it accomplish that goal. The pharmaceutical companies have worked together for 15 years in their efforts to fight other infectious diseases including HIV and hepatitis C. Remdesivir is the 10th drug licensed by Gilead to Mylan.Tue, 12 May 2020 21:26:00 +0000 —Read more…Mylan to Supply Investigational Antiviral Remdesivir for the Potential Treatment of COVID-19Mylan N.V. (NASDAQ: MYL) today announced, as part of its ongoing efforts to support patients and public health needs during the COVID-19 pandemic, a global collaboration with Gilead Sciences to expand access to the investigational antiviral remdesivir for the potential treatment of COVID-19.Tue, 12 May 2020 20:16:00 +0000 —Read more…

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